Tether, a leading stablecoin, is launching its USDT token on the Celo blockchain network. This opens another network for USDT’s variety of existing networks, which include Ethereum, Solana, and Polygon.
The date for the launch has not been released yet, however, a Tether official has communicated that it is happening soon. Celo, founded in 2020, consistently tries to provide users with mobile payments through integrated phone numbers with crypto wallets, as well as low transaction fees.
“The integration of Tether USDT on the Celo platform, which is built for the real world, will represent a significant step forward in our mission. By leveraging the unique capabilities of Celo, we can further enhance the usability and accessibility of Tether for millions of people” said Paolo Ardoino, CEO of Tether.Â
“This integration aligns with our mission to create a digital economy that creates the conditions for prosperity for everyone. With Tether USDT soon available on Celo, users have even more options for fast, low-cost payments and access to robust stablecoin use cases that benefit everyday users around the world” said Rene Reinsberg, Celo Co-Founder and Celo Foundation President.
Another proposal is the establishment of USDT as a gas currency in the Celo network for the completion of transactions on dApps, in particular. This report is released as Tether’s USDT supply in circulation is over 102 billion, and the total supply is more than 108 billion when taking into account authorized but unissued tokens.
Also Read: Tether Launches USDT Recovery Tool for Blockchain Transfers
